1147 County Road 163
About This Property
Perched atop a scenic ridgeline just west of Morgan Mill in northern Erath County, this beautifully restored 12.5-acre property combines modern luxury, classic Texas character, and breathtaking long-range views. From the home, enjoy 5 mile views to the south, creating a beautiful setting just minutes from Stephenville.
The 1,758 square-foot home has undergone a complete, top-to-bottom renovation with exceptional attention to detail. Taken down to the studs and rebuilt the right way, with new electrical wiring, plumbing, insulation, windows, doors, a standing seam metal roof, and refinished original hardwood floors, new appliances, gorgeous bathrooms and fixtures. The 3 bedroom, 2 bath home has a bright, modern interior that feels both timeless and inviting.
The land rolls gently to away from the home with mature oak trees and a small pond. Lots of wildlife and room for horses. The barn has six stalls, while the older brick barn adds a level of character and room for equipment. Whether used for horses, 4H animals, equipment storage, or entertaining, these improvements provide endless possibilities.
Located near the historic community of Morgan Mill, an area known for its rich ranching heritage, strong sense of community, and convenient access to Stephenville, this property offers the perfect blend of rural tranquility and modern convenience. Morgan Mill traces its roots back to the late 1800s and remains one of Erath County's most desirable country living destinations.
Properties that combine exceptional views, a fully renovated home, horse facilities, mature oak trees, and manageable acreage are increasingly difficult to find. This is a rare opportunity to own a turnkey country property in one of North Texas' most sought-after rural communities.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 14, 2026 | Sold | ||
| Sold | |||
| Aug 19, 2026 | In contract | - | |
| In contract | |||
| Jul 21, 2026 | Price Decreased |
$695,000
↓ $65K
(8.6%) | |
| Price Decreased | |||
| Jun 5, 2026 | Listed by Keller Williams Brazos West | $760,000 | |
| Listed by Keller Williams Brazos West | |||
| Feb 24, 2025 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017